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MARKET WRAP: JSE advances amid firm global markets and rosy inflation figures

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A fall in inflation to 4% year on year in July has increased the chances of SA receiving another cut in the interest rate, but global risks persist

The JSE continued its recovery on Wednesday, boosted by better-than-expected local consumer inflation data as well as global optimism that increased fiscal spending by major economies was on its way.

Interest-rate sensitive stocks including banks and retailers fared well on the day, while higher platinum and oil prices offered support to some miners. Gold had fallen 0.28% to $1,503.40/oz while platinum was 0.34% higher at $851.82. Brent crude rose 1.2% to $60.82 a barrel.

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